Japan M&A: growing, but from a low base

Positive developments only marginally outweigh negative outcomes for M&A deals in Japan this year, yet participants remain upbeat about the future.

Two steps forward, one step back seems an apt description of JapanÆs MA market. For every positive development, which seems to propel the market forward towards a more active MA arena, another development moves it back.

ôThere is a lot of head room in Japan for MA volumes to continue to grow on a sustained basis,ö says Shunichiro Tsunokawa, a managing director in Morgan StanleyÆs MA division in Tokyo.

ThatÆs not surprising given the small base....

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